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Cost effective or cost efficient
According to , effective is an adjective that means, “Adequate to accomplish a purpose; producing the intended or expected result.” It is cost-. Cost efficiency is the ability to use less resources (cost) to achieve greater output while cost effectiveness is the ability to use resources (cost) to achieve.
Cost-Effectiveness vs Cost Efficiency: What's The Difference? | PLANERGY Software.
Sep 12, · Cost-effective is basically "economical" — can you get more money back than you paid for it. Cost-effecient is basically "productivity" did you waste resources relative to . What is a Cost Efficiency—and How Does it Relate to Cost Effectiveness? The simplest definition of cost efficiency is “saving money by improving a process or product.” Companies . defines efficiency as, “performing or functioning in the best possible manner with the least waste of time and effort.” It is cost-efficient when costs are low when you’re pursuing .